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Mounds View City Council March 12, 2018 <br />Regular Meeting Page 3 <br /> <br /> <br />MOTION/SECOND: Gunn/Meehlhause. To Waive the Reading and Adopt Resolution 8921, <br />Adopting a Modification to the Redevelopment Project Plan for the Mounds View EDA Project <br />and the Establishment of Tax Increment Financing District No. 1-6 Therein and Adopting a Tax <br />Increment Financing Plan. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />B. Resolution 8927, Authorizing an Interfund Loan to EDA to Pay <br />Administrative Costs to be Paid Back with TIF. <br /> <br />Business Development Coordinator Beeman requested the Council authorize an interfund loan to <br />the EDA to pay administrative costs to be paid back with TIF. He explained this loan would be <br />up to $30,000 and would only be used if needed. <br /> <br />MOTION/SECOND: Meehlhause/Hull. To Waive the Reading and Adopt Resolution 8927, <br />Authorizing an Interfund Loan to EDA to Pay Administrative Costs to be Paid Back with TIF. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />C. Resolution 8928, Approving the LHIA Grant from Met Council for MWF <br />Properties. <br /> <br />Business Development Coordinator Beeman requested the Council approve the LHIA grant from <br />Met Council for MWF Properties. He explained this grant would provide MWF with $500,000 <br />from the Met Council and noted the City would act as the administrator for these funds. He <br />stated the funds would be viewed as a deferred loan for the MWF project. <br /> <br />James Lehnhoff, Ehlers & Associates, explained LHIA was facilitated through Minnesota <br />Housing and the Met Council. He reported this program assisted developers in creating <br />workforce housing and was highly competitive. He indicated these funds would assist the <br />developer in closing the financial gap for this project. <br /> <br />Mayor Mueller stated she met with Finance Director Beer to discuss her concerns regarding the <br />proposed grant. She explained she wanted to better understand how the grant funds were <br />matched by the City. Finance Director Beer explained the TIF requested from Mounds View will <br />be the City’s contribution. <br /> <br />MOTION/SECOND: Gunn/Bergeron. To Waive the Reading and Adopt Resolution 8928, <br />Approving the LHIA Grant from Met Council for MWF Properties. <br /> <br /> Ayes – 5 Nays – 0 Motion carried. <br /> <br />D. Resolution 8924, Approving the Purchase of Tornado Siren Controller <br />Upgrades and Pole Replacement.